Repsol/ Talisman Energy Regulation (Ec)

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Case No COMP/M.7519 - REPSOL/ TALISMAN ENERGY

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REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 97/04/2015

In electronic form on the EUR-Lex website under document number 32015M7519

Office for Publications of the European Union L-2985 Luxembourg

EUROPEAN COMMISSION

Brussels, 07/04/2015 C(2015) 2416 final

PUBLIC VERSION

SIMPLIFIED MERGER PROCEDURE

To the notifying party:

Dear Madam(s) and/or Sir(s),

Subject: Case M.7519 - REPSOL/ TALISMAN ENERGY Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) 1 No 139/2004 and Article 57 of the Agreement on the European Economic Area2

1. On 10 March 2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Repsol, S.A. ("Repsol", Spain) acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control over Talisman Energy Inc. ("Talisman", Canada), by way of purchase of shares.3

2. The business activities of the undertakings concerned are:

- Repsol is present in all activities relating to the oil and gas industry including exploration, development and production of crude oil and natural gas; refining and marketing

1 OJ L 24, 29.1.2004, p. 1 (the "Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision. 2 OJ L 1, 3.1.1994, p.3 ("the EEA Agreement").

3 Publication in the Official Journal of the European Union No C 093, 20.03.2015, p. 21.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: [email protected].

activities of oil products, petrochemical products, liquefied petroleum gas (LPG) as well as marketing activities relating to natural gas and liquefied natural gas (LNG);

- Talisman is active in the exploration, development, production, transportation, and marketing of crude oil, natural gas and natural gas liquids. Talisman’s activities are concentrated in North America, the North Sea, and Southeast Asia. It also has assets in Latin America, Africa, the Middle East, Australia/East Timor, and Papua New Guinea.

3. After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.4

4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission (Signed) Alexander ITALIANER Director-General

4 OJ C 366, 14.12.2013, p. 5.